Funds

[ladysuz]

Good morning, everyone -

I have a few questions about available funds.

First, can I include deferred compensation plan balances?
Second, do I show gross or net (savings less outstanding credit card, etc. debt) funds?
Finally, is an original bank statement sufficient or should it be something more formal from the bank?

Thanks everyone, and good luck!

Susan

 

[NewYorker]

You don't need to show credit balances, just show the balance in savings.

 

[rascojenkins]

I know for sure that people use 401k

 

[NewYorker]

Original Bank Statement is sufficient - and yes as rasco said, you can show 401K statement.

 

[Jada]

I have a question:
In showing proof of funds, if I have say $10,000CAD when i sent my application to CIU, Sydney and i have been approved and asked to forward full application to my visa office but now the exchange rate is different and shows that I have less than $10,000CAD. Do i have to make up the money in my local currency to meet up with the exchange rate or can i just write a note explaining?

 

[ladysuz]

Jada,

I'm going to write an explanatory note. My initial application included the value of my interest in two houses, but documenting that is expensive (appraisals at $350 each) and time-consuming, so I'm going to exclude them. I can't imagine that would be a problem as long as the remaining funds are sufficient.

Does anyone else with experience have a comment?